Treasury and Public Finance (SHCP) Secretary José Antonio Meade Kuribeña, said that his agency is working alongside the Attorney General’s Office (PGR) in investigations pertaining to financial crimes.

During the third edition of the National Research Award, Meade Kuribeña said that he was not able to give details about the current investigation into former Quintana Roo Gov. Roberto Borge Angulo, citing that “SHCP does not comment on ongoing investigations.”

When questioned about states debt, Meade Kuribeña said that “The summit of all state debt represents about three percent of the Gross Domestic Product (GDP).”

Meade Kuribeña said that this debt does not create any problems for public finances because it doesn’t affect the development of each state or municipality.

When discussing property taxes, Meade Kuribeña said that in Mexico, 0.3 percent of the GDP is collected from property taxes, while the Organization for Economic Development (OECD) average is six times higher.

According to Meade Kuribeña, this difference with OECD leaves room for an increase in property taxes that would benefit municipalities’ and states’ budgets.